Commonwealth Bank of Australia (CBA) has selected Misys to provide cloud-ready, connected institutional banking technology solutions to support its banking services outside of Australia.
The connected corporate banking solution from Misys will enable digitisation of end-to-end business processes that facilitate connected lending, trade and cash management. The agreement covers CBA’s operations outside of Australia and will provide a single, simple platform for the bank’s international branches in Asia, Europe and United States of America.
“Misys has a long-standing relationship with CBA and so we are in a strong position to help implement a cloud-ready solution to support their institutional banking business,” said Nadeem Syed, CEO at Misys.
Simon Paris, President at Misys, added, “Our solution will assist in simplifying their architecture, inject innovation and add agility, helping CBA ultimately to better serve their customers.”
CBA has long been a user of cloud services in Australia and is considering deployment options for its new corporate banking platform, including Misys FinCloud.
CBA’s Group Executive of Enterprise Services and Chief Information Officer, David Whiteing, said, “Commonwealth Bank of Australia has been using cloud services domestically for many years and this agreement will allow us the opportunity to continue to realise our cloud strategy to support our institutional and business banking operations outside of Australia.”
Misys was selected by CBA after an extensive review of the market. The terms of the agreement are confidential.